Market Overview

AEP Transforms Back Office ISO Operations, Selects Adapt2 Solutions to Streamline and Enhance ISO Settlements and Allocations

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AEP moves to the cloud to enhance ISO operations, improve performance and lead the energy transition with Adapt2's modernized settlement solution.

HOUSTON (PRWEB) November 16, 2020

Adapt2 Solutions, a leading provider of AI enabled multi-market operations and trading software, today announced a new partnership with American Electric Power (AEP) to digitally transform back office operations in the PJM and SPP energy markets. Leveraging the flagship SaaS Adapt2 Bid-to-Bill (B2B) solution, the collaboration enables AEP to fully integrate their settlement system on the Azure cloud.

As global demand for renewable power generation and the associated ISO market integration continues to increase, AEP will utilize Adapt2 as an integral part of their enterprise level settlement management and renewable optimization efforts within PJM and SPP. The proposed move announced today are part of a broader effort on the part of AEP to position the company to meet the evolving needs of the power market including the growth of renewable energy leveraging Adapt2's cloud expertise and Tahoe Data Lake as the foundation to automate workflows and analyze settlements from PJM and SPP seamlessly.

"As one of the nation's largest electricity producers with operations across multiple ISOs, AEP will be cornerstone addition to our customer base," said Jason Kram, Executive Vice President of Adapt2 Solutions. "AEP is rapidly evolving their renewable energy portfolio and will modernize their ISO operations platform to facilitate business growth. With over 30 PJM and 20 SPP implementations to date, the Adapt2 team knows the ins and outs to successfully modernize AEP's back office operations with the latest cloud-native technologies"

Enabled by AI and big data, Adapt2 B2B is market tested to provide energy participants across all North American ISO markets a strategic advantage in optimizing renewables from the first bid to the last bill. To learn more about how Adapt2 is accelerating power and gas market operations, visit https://www.adapt2solutions.com/ or follow Adapt2 on Linkedin (@Adapt2 Solutions) for more information on upcoming energy management webinars.

About Adapt2 Solutions:

Adapt2 Solutions (Adapt2) is the leading provider of AI enabled multi-market operations software designed to help market participants streamline all of their front and back office operations. Founded in 2008, Adapt2 delivers market-based solutions on the latest and most current technologies providing customers with fast, intuitive and stable user experience and performance. With over 135 market implementations representing over 2500 market participants, Adapt2 is a leading solution provider in the energy industry. Adapt2 Solutions is a privately held company based in Houston, Texas. To learn more about Adapt2, please visit http://www.adapt2solutions.com.

About American Electric Power:

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's approximately 17,400 employees operate and maintain the nation's largest electricity transmission system and nearly 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including 5,200 megawatts of renewable energy. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners and AEP Renewables, which provide innovative competitive energy solutions nationwide.

Media Inquiries:

Sanah Sadaruddin

Creative Grammar

(281) 864-0605

For the original version on PRWeb visit: https://www.prweb.com/releases/aep_transforms_back_office_iso_operations_selects_adapt2_solutions_to_streamline_and_enhance_iso_settlements_and_allocations/prweb17546559.htm

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